High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
The Canadian Coast Guard and other agencies are responding to a tugboat which sank overnight on the Fraser River near Vancouver.
The Coast Guard reports that the tug, named George H Ledcor, was towing a loaded barge when it capsized at about 11 p.m. on Monday.
The overturned tug is located near Deering Island.
An oil spill has been reported in the area. The City of Vancouver said there is potential for a significant amount of fuel to have been released.
Reports indicate the tug has as much as 22,000 liters of fuel on board.
All crew members are safe.
Containment boom has been place around the tug.
The Canadian Coast Guard is leading the response. A surveillance flight was scheduled for this morning and salvage crews with equipment, including a large crane, are on site.
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